MAR 3023 - MIDTERM M1-M3 EXAM STUDY SET
Change management in marketing is most important in a firm's:
a) Product development management processes
b) Customer relationship management processes
c) Supply chain management processes
d) All of the answers listed - ANSWER d) All of the answers listed
Marketing is:
a) about the invention of new markets, new products, and new services
b) about the invention of new ways of distributing and reaching new customers
c) about researching, finding, understanding, and making new markets
d) about creating and changing market processes that change markets
e) all of the answers listed - ANSWER e) all of the answers listed
The presence of price and quality variance in markets means:
a) markets are not efficient
b) many consumers are ignorant
c) a few suppliers' products and services are best buys, most are not
d) all of the answers listed - ANSWER c) a few suppliers' products and services
are best buys, most are not
Marketing is about:
a) trading off between increased customer satisfaction and increased profits
b) Increasing customer satisfaction, which in turn increases profits
c) increasing both customer satisfaction and company profits
d) all of the answers listed - ANSWER b) Increasing customer satisfaction, which
in turn increases profits
Product innovation and the diffusion of innovation create
a) customer satisfaction
b) profits
c) capital
d) all of the answers listed - ANSWER d) all of the answers listed
Marketing is the business discipline responsible for:
a) product innovation
b) the diffusion of innovation
c) product innovation and the diffusion of innovation
d) none of the answers listed; marketing is about customers, processes, and
profits. - ANSWER c) product innovation and the diffusion of innovation
The focus of companies need to be on winning:
,a) the product innovation race
b) the distribution innovation race
c) both a and b
d) either a or b
e) none of the answers listed - ANSWER c) both a and b
A responsibility of marketers is to sell new products and ideas to:
a) their organization
b) their existing customers
c) new customers
d) all of the answers listed - ANSWER d) all of the answers listed
Excellence in advertising and promotions is most needed
a) when your products and distribution are weak
b) when your products and distribution are strong
c) at all times
d) at no times - ANSWER b) when your products and distribution are strong
The United States market is no longer where the action is:
a) because it is no longer the largest economy in the world
b) because its economy is shrinking in size
c) because it is growing much slower than Asia
d) all of the answers listed - ANSWER c) because it is growing much slower than
Asia
The future of the United States and Canada depends on their:
a) Product innovation skills
b) Service innovation skills
c) Marketing skills
d) Diffusion of innovation skills - ANSWER c) Marketing skills
The British Trading Empire replaced:
a) The German Trading Empire
b) The Spanish Trading Empire
c) The French Trading Empire
d) None of the answers listed - ANSWER b) The Spanish Trading Empire
2. For how long has trading dominated raiding as a way of obtaining wealth and
power?
a) It is relatively new
b) For a thousand years
c) For three thousand years
d) For five thousand years - ANSWER a) It is relatively new
The first ecological disaster that destroyed an early trading empire occurred in:
a) China
, b) Africa
c) Central America
d) The Middle East
e) Europe - ANSWER d) The Middle East
How many times has China closed down its trade with the world?
a) Once
b) Twice
c) Three times
d) Five times - ANSWER c) Three times
Wealth is created by:
a) Selling and buying
b) Invention
c) The additive combination of trading and invention
d) The dynamic combination of selling, buying and invention - ANSWER d) The
dynamic combination of selling, buying and invention
Schumpeterian wealth is created by:
a) Selling and buying
b) Invention
c) The additive combination of trading and invention
d) The dynamic combination of selling, buying and invention - ANSWER b)
Invention
Adam Smith described a process where wealth is created by:
a) Selling and buying
b) Invention
c) The additive combination of trading and invention
d) The dynamic combination of selling, buying and invention Marketing is about
customers, processes and profits - ANSWER a) Selling and buying
The biggest example of the humanizing, welfare creating and civilizing benefits
of world trade in inventions is:
a) The Internet
b) The steamship
c) Money
d) Antibiotics - ANSWER d) Antibiotics
When a nation's trading ability declines:
a) It often resorts to raiding
b) People blame the leaders
c) It is because it becomes overconfident and arrogant
d) The whole culture loses its vitality and declines - ANSWER d) The whole
culture loses its vitality and declines
Change management in marketing is most important in a firm's:
a) Product development management processes
b) Customer relationship management processes
c) Supply chain management processes
d) All of the answers listed - ANSWER d) All of the answers listed
Marketing is:
a) about the invention of new markets, new products, and new services
b) about the invention of new ways of distributing and reaching new customers
c) about researching, finding, understanding, and making new markets
d) about creating and changing market processes that change markets
e) all of the answers listed - ANSWER e) all of the answers listed
The presence of price and quality variance in markets means:
a) markets are not efficient
b) many consumers are ignorant
c) a few suppliers' products and services are best buys, most are not
d) all of the answers listed - ANSWER c) a few suppliers' products and services
are best buys, most are not
Marketing is about:
a) trading off between increased customer satisfaction and increased profits
b) Increasing customer satisfaction, which in turn increases profits
c) increasing both customer satisfaction and company profits
d) all of the answers listed - ANSWER b) Increasing customer satisfaction, which
in turn increases profits
Product innovation and the diffusion of innovation create
a) customer satisfaction
b) profits
c) capital
d) all of the answers listed - ANSWER d) all of the answers listed
Marketing is the business discipline responsible for:
a) product innovation
b) the diffusion of innovation
c) product innovation and the diffusion of innovation
d) none of the answers listed; marketing is about customers, processes, and
profits. - ANSWER c) product innovation and the diffusion of innovation
The focus of companies need to be on winning:
,a) the product innovation race
b) the distribution innovation race
c) both a and b
d) either a or b
e) none of the answers listed - ANSWER c) both a and b
A responsibility of marketers is to sell new products and ideas to:
a) their organization
b) their existing customers
c) new customers
d) all of the answers listed - ANSWER d) all of the answers listed
Excellence in advertising and promotions is most needed
a) when your products and distribution are weak
b) when your products and distribution are strong
c) at all times
d) at no times - ANSWER b) when your products and distribution are strong
The United States market is no longer where the action is:
a) because it is no longer the largest economy in the world
b) because its economy is shrinking in size
c) because it is growing much slower than Asia
d) all of the answers listed - ANSWER c) because it is growing much slower than
Asia
The future of the United States and Canada depends on their:
a) Product innovation skills
b) Service innovation skills
c) Marketing skills
d) Diffusion of innovation skills - ANSWER c) Marketing skills
The British Trading Empire replaced:
a) The German Trading Empire
b) The Spanish Trading Empire
c) The French Trading Empire
d) None of the answers listed - ANSWER b) The Spanish Trading Empire
2. For how long has trading dominated raiding as a way of obtaining wealth and
power?
a) It is relatively new
b) For a thousand years
c) For three thousand years
d) For five thousand years - ANSWER a) It is relatively new
The first ecological disaster that destroyed an early trading empire occurred in:
a) China
, b) Africa
c) Central America
d) The Middle East
e) Europe - ANSWER d) The Middle East
How many times has China closed down its trade with the world?
a) Once
b) Twice
c) Three times
d) Five times - ANSWER c) Three times
Wealth is created by:
a) Selling and buying
b) Invention
c) The additive combination of trading and invention
d) The dynamic combination of selling, buying and invention - ANSWER d) The
dynamic combination of selling, buying and invention
Schumpeterian wealth is created by:
a) Selling and buying
b) Invention
c) The additive combination of trading and invention
d) The dynamic combination of selling, buying and invention - ANSWER b)
Invention
Adam Smith described a process where wealth is created by:
a) Selling and buying
b) Invention
c) The additive combination of trading and invention
d) The dynamic combination of selling, buying and invention Marketing is about
customers, processes and profits - ANSWER a) Selling and buying
The biggest example of the humanizing, welfare creating and civilizing benefits
of world trade in inventions is:
a) The Internet
b) The steamship
c) Money
d) Antibiotics - ANSWER d) Antibiotics
When a nation's trading ability declines:
a) It often resorts to raiding
b) People blame the leaders
c) It is because it becomes overconfident and arrogant
d) The whole culture loses its vitality and declines - ANSWER d) The whole
culture loses its vitality and declines
